The Luxembourg Prime Minister has abolished capital duty as from 1 January 2009. Under current tax law, capital duty of 0.50% is due in respect of contributions to the capital of a Luxembourg company, unless certain exemptions are available (namely,
The Securities and Exchange Commission voted unanimously to formally propose that mutual fund investors get access to key information about fees, performance, and strategies through interactive data, which would permit comparison shopping among thousands of funds with all the ease
The European Commission has designated French Judge Jean Louis Bruguire to review the procedures governing the handling, use and dissemination of the SWIFT data subpoenaed by the United States Treasury (UST). The US government agreed to the appointment of an
The Investment Company Institute has welcomed a US Securities and Exchange Commission proposal to eliminate a regulatory impediment to the launching of exchange traded funds (ETFs). ICI "is pleased to express its strong support for the Commissions proposal" for a
The Securities and Exchange Commission yesterday filed an emergency civil action in the United States District Court for the Southern District of New York against Cristian De Colli, a machinery engineer residing in Rome, Italy, alleging that he engaged in
According to Chartis Research's latest report on Credit Risk Management Systems, recent high profile credit, operational and business risk management failures in the financial services industry will result in an enhanced form of Basel II, possibly named Basel III, to
IntercontinentalExchange, Inc., an operator of global exchanges and over the counter (OTC) markets, has issued the following statement regarding Congressional passage of the Farm Bill. ICE applauds Congressional passage of the Farm Bill, including the important provision relating to the
The Capita Group Plc has achieved compliance with the Payment Card Industry Data Security Standard (PCI DSS) for Capita Enterprise Services, a managed service provider. Trustwave, a provider of on demand data security and PCI compliance management applications to businesses
Yesterday's SEC draft ruling requires that the approximately 500 largest registrants who file in US GAAP furnish their accounts to the SEC in eXtensible Business Reporting Language (XBRL) format in Q1 2009. The remainder of SEC filers will then need
The Financial Services Authority (FSA) has fined Thinc Group Limited and two of its group companies 900,000 for not having adequate risk management and compliance systems for its sub prime mortgage business and for failing to take reasonable care to